General Knowledge · Banking Regulations
A branch manager notices that several high-value cheques in outward clearing do not have mandatory CTS-2010 security features (like pantograph and void marking). According to updated RBI guidelines, what is the mandatory operational procedure for encountering non-compliant CTS-2010 instruments?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The bank must accept the cheques but only process them on the second and fourth Saturdays.
- 2The bank should inform the customer that non-CTS-2010 cheques are no longer eligible for clearing and must be returned with the reason 'instrument non-compliant with CTS-2010 standards'.✓
- 3The bank is required to manually image the cheques and send them to the National Clearing Cell via registered post.
- 4The bank should apply a special physical stamp stating 'valid' and process them through the standard image-based clearing system.
Correct answer
The bank should inform the customer that non-CTS-2010 cheques are no longer eligible for clearing and must be returned with the reason 'instrument non-compliant with CTS-2010 standards'.
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